Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Vest Financial LLC

Vest Financial LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 474,929 shares of the utilities provider’s stock after purchasing an additional 52,636 shares during the quarter. Vest Financial LLC owned 0.14% of Consolidated Edison worth $42,468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BOKF NA increased its holdings in shares of Consolidated Edison by 88.3% in the 2nd quarter. BOKF NA now owns 5,083 shares of the utilities provider’s stock valued at $455,000 after purchasing an additional 2,384 shares in the last quarter. Qsemble Capital Management LP purchased a new position in Consolidated Edison in the second quarter valued at about $1,060,000. LPL Financial LLC lifted its position in shares of Consolidated Edison by 101.3% during the 2nd quarter. LPL Financial LLC now owns 606,594 shares of the utilities provider’s stock valued at $54,242,000 after acquiring an additional 305,291 shares during the period. HHM Wealth Advisors LLC boosted its stake in shares of Consolidated Edison by 1,133.3% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,850 shares of the utilities provider’s stock worth $165,000 after acquiring an additional 1,700 shares in the last quarter. Finally, AGF Management Ltd. boosted its stake in shares of Consolidated Edison by 18.7% during the 2nd quarter. AGF Management Ltd. now owns 31,751 shares of the utilities provider’s stock worth $2,839,000 after acquiring an additional 5,005 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the topic of several recent research reports. Wells Fargo & Company boosted their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. UBS Group lifted their target price on shares of Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Scotiabank increased their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Morgan Stanley lifted their price objective on Consolidated Edison from $75.00 to $82.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. Finally, Argus upgraded Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $92.65.

Consolidated Edison Stock Down 1.2 %

ED opened at $103.76 on Thursday. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $105.99. The firm has a 50 day moving average price of $98.13 and a 200 day moving average price of $93.86. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The company has a market cap of $35.88 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 3.49 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the company earned $0.61 EPS. Sell-side analysts expect that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Wednesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.